Average method for inventory costs

Assignment Help Financial Accounting
Reference no: EM13912772

Medina Corp. uses the weighted average method for inventory costs and had the following information available for the year.

Beginning inventory of goods in process (40% complete, $1,100)                 200 units

Ending inventory of goods in process (80% complete)………..                         400 units

Total units started during the year……………………………..                       3,200 units

 

Equivalent units of production for the year are ________

Reference no: EM13912772

Questions Cloud

Current liability : Which of the following accounts is NOT classified as a current liability?
Noncurrent liability : Which of the following is NOT classified as a noncurrent liability?
Inflation adjustments : adjustments this standard deduction has increased by $50 every three years. It is reasonable to expect this amount will increase to $1,100 in 2018, $1,150 in 2021, $1,200 in 2024, $1,250 in 2027 and $1,300 in 2030 due to inflation adjustments.
Write a pascal program cross-referencer which will produce : Write a Pascal program cross-referencer which will produce, for a given Pascal program, a list in alphabetical order, of all the identifiers used.
Average method for inventory costs : Medina Corp. uses the weighted average method for inventory costs and had the following information available for the year
Designing a mobile computing application : As using the GPS is battery consuming, the app should also be sensitive to battery levels and perhaps stop GPS based tracking or disallow tracking or warn the user if battery levels are too low - When a tracked path is saved, LTUPersonalLogger shou..
Force needed to drive the conveyor : Sand drops at the rate of 2000 kg/min. from the bottom of a hopper onto a belt conveyor moving horizontally at 250 m/min. Determine the force needed to drive the conveyor, neglecting friction.
A standard cost approach : A fast-food restaurant uses a standard cost approach to aid in controlling its food cost. The following are the standard cost, sales prices, and quantities sold of each of the five items featured on the menu during a particular week:
Money in the economy changed : While Jon is walking to school one morning, a helicopter flying overhead drops a $100 bill. Not knowing how to return it, Jon keeps the money and deposits it in his bank.After this initial transaction, by how much is the money in the economy changed.

Reviews

Write a Review

Financial Accounting Questions & Answers

  Give journal entries necessary on september

The dividend is payable on October 12 to the stockholders of record on September 30. Give journal entries necessary on September 15, September 30, and October 12, 2010.

  What affect a sales volume increase or decrease

Determine what affect a sales volume increase or decrease will have on unit fixed cost, unit variable cost, total fixed cost, and total variable cost.

  Net operating loss

During the year, an S corporation incurs a $ 80,00 net operating loss. Corine, the shareholder, has a $ 65,000 stock basis, and there is a $75,000 balance in AAA at the beginning of the year. At the year end, Corrine has a $ __________ basis in the s..

  What was disney''s amount of working capital

What was Disney's amount of working capital at year-end 2004?  Did it change significantly and Compute the working capital ratio at year-end 2004 and year-end 2003.  Did it improve or deteriorate between 2003 and 2004?

  What transactions might need reversing entries

What are reversing entries and why are they required? What transactions might require reversing entries? What transactions might not? What would happen if reversing entries were not made?

  Prepare the income statement of hauser company

Prepare the operating activities section of the statement of cash flows for the year ended December 31, 2012, for Hauser Company, using the indirect method.

  Corporate fraud schemes

Identify an organization that was involved in corporate fraud. Explain how fraud can be detected and evaluate the importance of teamwork and leadership in a fraud investigation.

  Porter corporations capital structure consists of 50000

porter corporations capital structure consists of 50000 shares of common stock. at december 31 2010 an analysis of the

  How should the estimated opportunity costs with growing

How should the estimated opportunity costs with the growing traffic gridlock be adjusted if the study has not accounted for the fact that motorists can make cellular phone calls while traveling on freeways? Explain.

  First two interest periods using effective-interest method

On March 1, 2014, Oaken Furniture Co. issued $700,000 of 10 percent bonds to yield 8 percent. Interest is payable semiannually on February 28 and August 31. The bonds mature in 10 years. Oaken Furniture Co. is a calendar-year corporation. Determine t..

  Question 1 ann who died in january 2012 was survived by her

question 1. ann who died in january 2012 was survived by her husband jack. jack and ann were married in 1996. anns

  Should beryl''s iced tea continue to rent

Purchase a new, more advanced machine for $250,000. This machine will require $15,000 per year in ongoing maintenance expenses and will lower bottling costs by $10,000 per year. Should Beryl's Iced Tea continue to rent, purchase its current machine..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd